Latest news with #SurplusTaxRefundEligibilityTool
Yahoo
4 days ago
- Business
- Yahoo
How to get a $500 Georgia Tax Rebate Check
Some good news could be coming to your mailbox or via direct deposit this week. The Georgia Department of Revenue announced this week that it will begin issuing $500 rebate checks to all eligible taxpayers in the state. Gov. Brian Kemp announced his intention to issue a rebate back in April when he signed House Bill 112 into law. This is the third time that Georgia has issued a tax rebate, with the previous amounts being released in 2022 and 2023. The $1 billion rebate comes as a result of the $16 billion surplus Georgia announced at the end of fiscal year 2024. $250 for individuals filing as single or married filing separately $375 for those filing as head of household $500 for couples filing jointly Taxpayer must have filed Georgia income tax returns for both 2023 and 2024 Taxpayer may not be claimed as a dependent on someone else's 2023 return Taxpayer must be a full-time Georgia resident for tax purposes If a taxpayer is set up to get their refunds through direct deposit, the money will be wired into their bank account. If a taxpayer directed their refund to be sent through the mail, a physical check will be issued. The Georgia Department of Revenue began issuing the surplus rebate checks in late May. According to House Bill 112, refunds are not taxable for Georgia individual income tax purposes but could be taxable on federal returns. 'Our Department is ready to get this third round of refunds out the door efficiently and securely,' said State Revenue Commissioner Frank O'Connell. 'We appreciate the continued partnership with the Governor and the General Assembly in making this happen.' According to a press release from the Department of Revenue, taxpayers can check their eligibility using the Surplus Tax Refund Eligibility Tool, available through the Georgia Tax Center, by inputting their tax year, Social Security Number or Tax Identification Number, and Federal Adjusted Gross Income. For more details on the 2025 tax rebate distribution and to track the status of your rebate check, visit: The post How to get a $500 Georgia Tax Rebate Check appeared first on Capital B News - Atlanta.
Newsweek
4 days ago
- Business
- Newsweek
Millions of Americans To Get Tax Rebate of up to $500
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out. Why It Matters In April, Governor Brian Kemp signed House Bill 112 into law, approving a $1 billion special state income tax refund. It marks the third time in recent years that Georgia has issued a special tax refund, with previous rebates distributed in 2022 and 2023. What To Know The one-time rebate will be distributed to eligible taxpayers after their 2024 state returns have been processed, provided they meet certain criteria. To qualify, taxpayers must have filed their 2023 and 2024 individual income tax returns, contributed to the state tax system, and have no outstanding debts with the Georgia Department of Revenue. Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out. Taxpayers in Georgia could be getting up to $500 in the near future as tax rebates are sent out. GETTY The refund amount for individual filers will be based on their 2023 tax liability and is capped at: $250 for single filers or those married filing separately $375 for heads of household $500 for couples filing jointly If you're not sure if you are eligible for a refund, you can check via the Surplus Tax Refund Eligibility Tool, available through the Georgia Tax Center, by inputting your tax year, Social Security number or tax identification number and federal adjusted gross income. If you paid state taxes or received your refund via direct deposit, the rebate will be deposited into your bank account. If you filed by mail, you'll receive a paper check. Under Georgia law, the rebate is not considered taxable income. However, the amount could be reduced or withheld to cover any outstanding debts that may be owed to the state. Similar tax rebates are issued in other states. Checks of up to $400 will be paid to eligible taxpayers in New York after Governor Kathy Hochul confirmed plans for inflation refund checks. What People Are Saying Georgia Governor Brian Kemp, in a statement: "Because we've managed our state's resources wisely, we're again able to return money to hardworking Georgians who know how best to use it. Along with our acceleration of the largest income tax rate cut in state history, this latest refund is just one more way we're working to support the people of our state, their families, and their businesses, because that's not the government's money, it's theirs!" Georgia State Revenue Commissioner Frank O'Connell: "Our department is ready to get this third round of refunds out the door efficiently and securely. We appreciate the continued partnership with the governor and the General Assembly in making this happen." What Happens Next In addition to HB112, the General Assembly passed HB111, reducing the Peach State's income tax rate from 5.39 percent to 5.19 percent.
Yahoo
5 days ago
- Business
- Yahoo
Governor's office said it will start issuing special tax refund checks this week
The governor's office said it will start issuing one-time, special tax refunds this week. The bill passed earlier this year will mean money back in your pocket. Here is the breakdown: $250 for single filers and married individuals filing separately $375 for head of household filers $500 for married individuals filing jointly 'Because we've managed our state's resources wisely, we're again able to return money to hardworking Georgians who know how best to use it,' Gov. Brian Kemp said. 'Along with our acceleration of the largest income tax rate cut in state history, this latest refund is just one more way we're working to support the people of our state, their families, and their businesses, because that's not the government's money, it's theirs!' Taxpayers can check their eligibility using the Surplus Tax Refund Eligibility Tool, available through the Georgia Tax Center, by inputting their tax year, Social Security Number or Tax Identification Number, and Federal Adjusted Gross Income. TRENDING STORIES: 'Real Housewives of Atlanta' star Dwight Eubanks diagnosed with stage 4 prostate cancer Drivers caught racing on busy Duluth road Person found 'slumped' over in U-Haul leads to discovery of stolen IDs, fentanyl
